Calls
127
#218
Alpha Score 84.0
Josh Brown
CEO, Ritholtz Wealth Management
Win Rate
48.0%
return
+2.4%
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Ticker
Side
Mentions
First Call
Call Price
P&L
Thesis
Theme
Source
Long
Feb 17
$263.88
+23.7%
"Apple could be the stock of the year... They are going to launch an Agentic Siri this year... telling Siri to go into the hundreds of apps on your phone and do things across those apps." Apple has underperformed due to a lack of "AI hype," but they own the distribution (2 billion devices). By launching an "Agentic" AI that controls other apps, they make standalone LLMs (like ChatGPT) features rather than platforms. They avoided massive CapEx spend and are positioned to capture the consumer AI interface. LONG Apple as a contrarian AI play with a major catalyst (Agentic Siri) expected in May or September. If the AI launch underwhelms or Siri remains "useless" compared to competitors.
"Apple could be the stock of the year... They are going to launch an Agentic Siri this year... telling Siri to go into the hundreds of apps on your phone and do things across those apps." Apple has underperformed due to a lack of "AI hype," but they own the distribution (2 billion devices). By launching an "Agentic" AI that controls other apps, they make standalone LLMs (like ChatGPT) features rather than platforms. They avoided massive CapEx spend and are positioned to capture the consumer AI interface. LONG Apple as a contrarian AI play with a major catalyst (Agentic Siri) expected in May or September. If the AI launch underwhelms or Siri remains "useless" compared to competitors.
AI Hardware
Long
Mar 17
$182.28
+19.9%
Speaker is long NVDA for over 10 years and states "I think it's going to 250." Calls it "the best company in the world" and "one of the cheapest stocks in tech." Highlights the "inference inflection" as a key shift from training to permanent, utility-like AI usage. The stock has consolidated for ~6 months near its 200-day moving average, digesting past gains. The GTC event emphasized the shift to inference and physical-world AI applications (robotics, autonomous vehicles), expanding the TAM beyond data center training. Expects a breakout higher from the consolidation pattern as uncertainties clear and the inference-driven growth story becomes clearer, with no specific news catalyst needed. Competition from lower-cost alternatives (e.g., Google TPUs, AMD) for inference workloads, and a potential pullback in data center financing which would directly hit orders.
Speaker is long NVDA for over 10 years and states "I think it's going to 250." Calls it "the best company in the world" and "one of the cheapest stocks in tech." Highlights the "inference inflection" as a key shift from training to permanent, utility-like AI usage. The stock has consolidated for ~6 months near its 200-day moving average, digesting past gains. The GTC event emphasized the shift to inference and physical-world AI applications (robotics, autonomous vehicles), expanding the TAM beyond data center training. Expects a breakout higher from the consolidation pattern as uncertainties clear and the inference-driven growth story becomes clearer, with no specific news catalyst needed. Competition from lower-cost alternatives (e.g., Google TPUs, AMD) for inference workloads, and a potential pullback in data center financing which would directly hit orders.
AI Compute
Long
May 22
$746.29
+1.6%
Cap-weight index investing is superior to equal-weight because the largest companies have durable moats from network effects and weak antitrust enforcement. Equal weight cuts winners and underperforms in this environment.
Equity Indexes
Long
Mar 03
$97.86
+113.8%
CrowdStrike reported strong earnings ($5.25B ARR, +24% YoY) but the stock didn't rally massively due to guidance. The market realized that AI (Anthropic/LLMs) doesn't solve cybersecurity; in fact, more AI workloads create *more* endpoints that need Falcon's protection. Long-term hold. The pullback offers a chance to own the "platform winner" in cyber, similar to how semi-cap equipment consolidated to 3 players. Valuation remains high (20x sales); guidance must be perfect to sustain the multiple.
CrowdStrike reported strong earnings ($5.25B ARR, +24% YoY) but the stock didn't rally massively due to guidance. The market realized that AI (Anthropic/LLMs) doesn't solve cybersecurity; in fact, more AI workloads create *more* endpoints that need Falcon's protection. Long-term hold. The pullback offers a chance to own the "platform winner" in cyber, similar to how semi-cap equipment consolidated to 3 players. Valuation remains high (20x sales); guidance must be perfect to sustain the multiple.
Cybersecurity
Long
Feb 26
$27.75
+15.3%
Investors are dumping vertical SaaS names (like Toast and Service Titan) on the fear that AI will allow customers to build their own software solutions. This is "Second-Order Thinking" gone wrong. Blue-collar industries (carpenters, restaurants) will not stop using purpose-built software to code their own billing systems via AI. These "System of Record" companies are sticky and essential. LONG. The selling is emotional and disconnected from the reality of how businesses operate. Long-term pricing power erosion if AI agents commoditize software features.
Investors are dumping vertical SaaS names (like Toast and Service Titan) on the fear that AI will allow customers to build their own software solutions. This is "Second-Order Thinking" gone wrong. Blue-collar industries (carpenters, restaurants) will not stop using purpose-built software to code their own billing systems via AI. These "System of Record" companies are sticky and essential. LONG. The selling is emotional and disconnected from the reality of how businesses operate. Long-term pricing power erosion if AI agents commoditize software features.
Payments & Fintech
Long
Feb 11
$155.56
+6.3%
"I did that same trade with Exxon at 119... I'm starting to think about Exxon maybe being a long-term holding." The strength of the move in a mega-cap like Exxon suggests a regime change. Brown views this not just as a trade, but potentially the start of a 7-year bull market in energy, prompting a shift from "trading with stops" to "investing for the long haul." Long-term hold. Global energy demand destruction or regulatory shifts.
"I did that same trade with Exxon at 119... I'm starting to think about Exxon maybe being a long-term holding." The strength of the move in a mega-cap like Exxon suggests a regime change. Brown views this not just as a trade, but potentially the start of a 7-year bull market in energy, prompting a shift from "trading with stops" to "investing for the long haul." Long-term hold. Global energy demand destruction or regulatory shifts.
Oil & Gas
Long
Jul 14
$455.55
+11.0%
IBM's revenue miss and pre-announcement reveal that enterprise IT spending is rotating away from traditional SaaS toward AI infrastructure (servers, memory, GPUs) and cybersecurity. IBM's customers are prioritizing workload security and AI hardware, benefiting cyber stocks and hardware vendors like CrowdStrike, Palo Alto Networks, and Dell, which hit new highs on the news.
AI Hardware
Long
Mar 17
$77.87
-6.5%
Speaker owns "a lot" of UBER and believes it will break its downtrend. Details a series of recent autonomous vehicle partnerships (Zoox/Amazon, Nissan/Waabi, Nvidia) that integrate potential competitors' fleets onto the Uber network. Uber's app becomes the aggregation platform for multiple autonomous vehicle providers (backed by major tech and auto companies), securing its position in the future market against Waymo and Tesla. The stock is exceptionally cheap (bottom quintile of S&P 500 P/E) while growth expectations (~36%) are triple the market median. The combination of strategic positioning for autonomy and deep value relative to growth makes the stock a compelling long. The recent partnership news is a catalyst for the stock to bottom and move higher. Execution risks on autonomous partnerships; competitive threat from Waymo/Google's direct integration into mapping apps remains potent.
Speaker owns "a lot" of UBER and believes it will break its downtrend. Details a series of recent autonomous vehicle partnerships (Zoox/Amazon, Nissan/Waabi, Nvidia) that integrate potential competitors' fleets onto the Uber network. Uber's app becomes the aggregation platform for multiple autonomous vehicle providers (backed by major tech and auto companies), securing its position in the future market against Waymo and Tesla. The stock is exceptionally cheap (bottom quintile of S&P 500 P/E) while growth expectations (~36%) are triple the market median. The combination of strategic positioning for autonomy and deep value relative to growth makes the stock a compelling long. The recent partnership news is a catalyst for the stock to bottom and move higher. Execution risks on autonomous partnerships; competitive threat from Waymo/Google's direct integration into mapping apps remains potent.
Retail & Mobility
Long
Mar 03
$75.78
-25.9%
Software stocks were decimated (down ~60% in some cases) on fears that AI would replace them, but are now stabilizing/bouncing (Intuit +22% in 5 days). The "AI kills SaaS" narrative was overdone. Incumbents like Toast (restaurant billing) and ServiceTitan (trades billing) own the workflow and will likely be the ones to *deliver* AI features to their verticals, not be replaced by them. Buy the rotation. The market is realizing these business models are not obsolete. If these stocks roll over and make new lows, the "AI disruption" thesis might actually be valid, leading to a much deeper selloff.
Software stocks were decimated (down ~60% in some cases) on fears that AI would replace them, but are now stabilizing/bouncing (Intuit +22% in 5 days). The "AI kills SaaS" narrative was overdone. Incumbents like Toast (restaurant billing) and ServiceTitan (trades billing) own the workflow and will likely be the ones to *deliver* AI features to their verticals, not be replaced by them. Buy the rotation. The market is realizing these business models are not obsolete. If these stocks roll over and make new lows, the "AI disruption" thesis might actually be valid, leading to a much deeper selloff.
AI Software
Long
Feb 11
$174.84
-2.6%
"I am calling those the Halo stocks... heavy assets low obsolescence risk... Can Claude whip up a can of Diet Pepsi? No." In an AI-disrupted world, capital flees replicable code and flows to tangible, physical assets that AI cannot generate. Companies that move atoms (airlines, manufacturers, staples) have a moat that software companies no longer possess. Long "Halo Stocks" (Heavy Assets, Low Obsolescence). Global recession reducing demand for physical goods/commodities.
"I am calling those the Halo stocks... heavy assets low obsolescence risk... Can Claude whip up a can of Diet Pepsi? No." In an AI-disrupted world, capital flees replicable code and flows to tangible, physical assets that AI cannot generate. Companies that move atoms (airlines, manufacturers, staples) have a moat that software companies no longer possess. Long "Halo Stocks" (Heavy Assets, Low Obsolescence). Global recession reducing demand for physical goods/commodities.
Thematic ETFs
Long
Feb 10
$182.26
+17.0%
Investors are fleeing asset-light businesses due to AI disruption fears. Brown identifies "HALO" stocks (Heavy Assets, Low Obsolescence) as the new leadership. An LLM cannot replicate a physical bag of Fritos (Pepsi), refine gasoline (Valero), or pour concrete (Martin Marietta). These companies have "moats of physics" that AI cannot cross. LONG. These sectors (Energy, Industrials, Staples) are seeing massive inflows as "refugees" from the SaaS crash seek safety in non-disruptible cash flows. Some names (like KO) are becoming technically overbought (RSI 85+), suggesting a short-term pullback is likely within a longer uptrend.
Investors are fleeing asset-light businesses due to AI disruption fears. Brown identifies "HALO" stocks (Heavy Assets, Low Obsolescence) as the new leadership. An LLM cannot replicate a physical bag of Fritos (Pepsi), refine gasoline (Valero), or pour concrete (Martin Marietta). These companies have "moats of physics" that AI cannot cross. LONG. These sectors (Energy, Industrials, Staples) are seeing massive inflows as "refugees" from the SaaS crash seek safety in non-disruptible cash flows. Some names (like KO) are becoming technically overbought (RSI 85+), suggesting a short-term pullback is likely within a longer uptrend.
Oil & Gas
Long
Feb 10
$199.50
+93.4%
Investors are fleeing asset-light businesses due to AI disruption fears. Brown identifies "HALO" stocks (Heavy Assets, Low Obsolescence) as the new leadership. An LLM cannot replicate a physical bag of Fritos (Pepsi), refine gasoline (Valero), or pour concrete (Martin Marietta). These companies have "moats of physics" that AI cannot cross. LONG. These sectors (Energy, Industrials, Staples) are seeing massive inflows as "refugees" from the SaaS crash seek safety in non-disruptible cash flows. Some names (like KO) are becoming technically overbought (RSI 85+), suggesting a short-term pullback is likely within a longer uptrend.
Investors are fleeing asset-light businesses due to AI disruption fears. Brown identifies "HALO" stocks (Heavy Assets, Low Obsolescence) as the new leadership. An LLM cannot replicate a physical bag of Fritos (Pepsi), refine gasoline (Valero), or pour concrete (Martin Marietta). These companies have "moats of physics" that AI cannot cross. LONG. These sectors (Energy, Industrials, Staples) are seeing massive inflows as "refugees" from the SaaS crash seek safety in non-disruptible cash flows. Some names (like KO) are becoming technically overbought (RSI 85+), suggesting a short-term pullback is likely within a longer uptrend.
Oil & Gas
Long
Feb 06
$87.64
+15.9%
Josh explicitly stated, "I bought IGV today." He notes that software stocks have seen liquidation-level selling (down 18% in 7 days), a magnitude only seen during the 2008 crisis and the 2022 crash. This is a "falling knife" trade based on market structure, not necessarily fundamentals. When a specific sector is liquidated indiscriminately while the broader market holds up, it often signals a short-term capitulation bottom. LONG (Tactical/Contrarian). The "AI displacement" thesis could be structurally true, meaning these software companies are value traps that will continue to lose pricing power.
Josh explicitly stated, "I bought IGV today." He notes that software stocks have seen liquidation-level selling (down 18% in 7 days), a magnitude only seen during the 2008 crisis and the 2022 crash. This is a "falling knife" trade based on market structure, not necessarily fundamentals. When a specific sector is liquidated indiscriminately while the broader market holds up, it often signals a short-term capitulation bottom. LONG (Tactical/Contrarian). The "AI displacement" thesis could be structurally true, meaning these software companies are value traps that will continue to lose pricing power.
Thematic ETFs
Long
Feb 06
$409.97
+19.6%
Despite the software sell-off, Josh asserts, "If you are selling Microsoft today, take your hands off the keyboard." Mowrey confirms, "We own Microsoft." Microsoft is being dragged down with the broader software/AI skepticism, but it is the utility-like monopoly of the sector. It is currently trading at a reasonable valuation (approx. 30x) compared to the low-growth Staples sector (23x) that investors are fleeing into. LONG. Continued multiple compression in the mega-cap tech space if rates stay higher for longer.
Despite the software sell-off, Josh asserts, "If you are selling Microsoft today, take your hands off the keyboard." Mowrey confirms, "We own Microsoft." Microsoft is being dragged down with the broader software/AI skepticism, but it is the utility-like monopoly of the sector. It is currently trading at a reasonable valuation (approx. 30x) compared to the low-growth Staples sector (23x) that investors are fleeing into. LONG. Continued multiple compression in the mega-cap tech space if rates stay higher for longer.
Hyperscalers
Long
Jul 31
$304.04
+8.4%
Snowflake is becoming an AI infrastructure play rather than just a software company. With 13,000 enterprise customers, its central data warehouse allows enterprises to run AI workflows directly on the data without moving it, avoiding fragmentation. The market is now treating it like AI infrastructure, driving the stock from a $70B to $100B market cap.
AI Software
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Josh Brown has 127 trade ideas tracked on Buzzberg across 125 tickers since February 2026. Win rate 48% across 127 evaluated calls, average return +2.4%. Ranked #218 on the Buzzberg Alpha leaderboard. Most covered: AAPL, NVDA, SPY.
